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According to the Daily Mirror, the club has narrowed the field down to three companies and is looking for a sponsorship deal that will help fund its future ambitions, which include a new or redeveloped stadium.

Liverpool is thought to be seeking a naming-rights partner “who are prepared to pay at least the equal of Arsenal’s record-breaking deal at the Emirates, which was worth around £150 million [$235.5 million],” according to the report.

Arsenal’s 15-year deal with Emirates was signed in 2004, two years before the Emirates Stadium opened its doors.

A deal in that range would make building a new 65,000-70,000 seat stadium a likely proposition, as the local council is keen to use a new facility to redevelop part of the city.

It is believed that Standard Chartered Bank, Liverpool’s current shirt sponsors, is one of the three companies under consideration.